Five-member constitution bench to decide whether note ban legal : Supreme Court
The court said this while hearing petitions challenging the ban on 500 and 1,000 rupee notes last month, which has left millions facing a cash crunch and scrambling to banks and ATMs.
The court, however, said the Government will decide on the extension of the use of old notes at select places like hospitals and petrol pumps.
From Friday, old 500-rupee notes cannot be used anywhere and can only be deposited in banks. The Government refused to extend the exemptions it had announced to ease the cash crunch.
The court also said that it is up to the Government to review the withdrawal limit of Rs. 24,000 per week from banks.
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